Representative Matthews introduced House Bill 442, a measure to create a two‑year rent‑stabilization framework for manufactured‑home parks while state agencies study longer‑term regulatory options.

The bill would limit rent increases to 3% for the period July 1, 2025–June 30, 2026, and to 5% for July 1, 2026–June 30, 2027, for tenants in affected parks. The text ties the temporary caps to a process the sponsor said is intended to buy time while state authorities review infrastructure, utility reliability and market practices in the manufactured‑housing sector.

Several park residents and local organizers testified in favor. Rochelle Smith, chair of the Meadows Action Team at Albuquerque Meadows, said her park has seen multiple rent increases since 2021 after the property’s sale to an out‑of‑state private equity owner. “When pressed, our new owners … explained the large increases are being based on current market rate,” Smith said; she said a resident market survey found nearby parks had lower lot rents and better upkeep.

Opponents included the New Mexico Association of Realtors, which called the bill a form of rent control and warned it could discourage investment in park infrastructure. The association urged working with the memorial process the sponsor proposed to study the sector. Kent Cravens, the trade association representative, said rent stabilization functions as a control and risks harming supply.

Lawmakers asked about interaction with a 1991 state law that preempts local rent control and raised concerns about emergency effective dates: several members warned landlords could preempt the caps by raising rents before the bill’s effective date unless an emergency clause is added.

At the end of the hearing, a representative moved a due‑pass motion; the committee had not completed a roll call vote on that motion in the transcript provided.

Sponsor Matthews said the two‑year stabilization period is intended to protect residents—many on fixed incomes—while state agencies prepare recommendations on longer‑term solutions.